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Not Waterloo. Heraclea.

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Dave at Classical Values points out that health care might not be Obama's "Waterloo," but instead a Pyrric victory--as everybody knows that something will be passed and called "health care reform":
People keep talking about health care reform being Obama's Waterloo. It's not. It's his Heraclea, his Asculum, a potential Pyrrhic victory that might destroy his party. Americans are generally happy with their healthcare, and abhor gov't rationing and government mandates in a way Europeans and Japanese don't. Our cultural identity is built around individualism and liberty. That's why "reform" gets less popular they more people hear about specific proposals.